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ValentinkaMS [17]
2 years ago
8

Otto and Monica are married taxpayers who file a joint tax return. For the current tax year, they have AGI of $99,600. They have

excess depreciation on real estate of $59,760, which must be added back to AGI to arrive at AMTI. The amount of their mortgage interest expense for the year was $19,920, and they made charitable contributions of $9,960. They have no other itemized deductions. If Otto and Monica's taxable income for the current year is $69,720, determine the amount of their AMTI.
Business
1 answer:
trapecia [35]2 years ago
7 0

Answer: $129480

Explanation:

Based on the information given, the amount of their AMTI will be calculated as:

AGI = $99600

Add: Excess Depreciation on Real Estate = $59760

Less: Mortgage Interest Expenses = $19920

Less : Charitable Contribution = $9960

AMTI = $129480

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____ [38]

Answer:

D. $ 10,300

Choice D is correct:  Net income = $ 10,300

Explanation:

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Add income =                                          $ 3000

Less Salaries for the month of March = ($ 6200)

Less utilities paid                                       ($ <u>500)</u>

<u>Net income=</u>                                               $ 10,300

Treatments.

Net income is found by deducting expenses from revenues earned

$ 100,000 is the retained earnings so it is not accounted for net income.

Equipment is an asset so it is not accounted for net income.

Cash received is the revenue so it is accounted.

Rent is an expense account so it is subtracted.

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6 0
3 years ago
Consider the impact of the following two events in the television market.First, people are using more tablets and fewer televisi
babunello [35]

Answer:

The correct answer is option B.

Explanation:

As people are using more tablets and fewer television sets, the demand for television sets will decline. This will cause the demand curve to shift to the left. As a result, the price level will decline.  

Now, with new production technique the cost of production declines. As a result, there will be an increase in the supply as the firm will be able to produce more at the same cost. This will cause the supply curve to shift to the right. This rightward shift in the supply curve may lead to an increase or decrease in the quantity of output. It depends on the extent of change in supply.

7 0
3 years ago
Externalities and Public Goods - End of Chapter Problem
Nuetrik [128]

Answer:

LaShawn's neighbor mows his lawn during the night.

DEPENDING ON HOW OFTEN LASHAWN'S NEIGHBOR MOWS HIS LAWN, A PRIVATE BARGAINING MIGHT BE USEFUL. IF THIS HAPPENS ONCE A MONTH, THE NEED OF INTERVENTION IS NOT SIGNIFICANT. BUT IF THIS HAPPENS MORE OFTEN, PROBABLY THEN BOTH MEIGHBORS WILL NEED TO BARGAIN AN OPTIMAL SOLUTION.

Opening an Apple store in a mall causes  overall sales in the mall to increase by 10%.  

THIS IS A POSTIIVE EXTERNALITY, THEREFORE, ANY TYPE OF INTERVENTION WILL PROBABLY MAKE THE SITUATION WORSE.

The production of steel results in  pollution that affects millions of  residents in the surrounding area.

IN THIS CASE, YOU NEED GOVERNMENT INTEREVENTION. POLUTION IS SOMETHING THAT AFFECTS THE GEENRAL PUBLIC, THEREFORE, IT MUST BE ADDRESSED BY THE EPA. IN CASE THE EPA AND OTHER GOVERNMENT INSTITUTIONS DECIDE TO DO NOTHING, THEN YES, PRIVATE BARGAINING WILL PROBABLY BE NECESSARY.

7 0
2 years ago
Financial Planning Partners​ Inc., employs 12 fulltime CPAs and 10 paraprofessionals. Direct and indirect costs are applied on a
mihalych1998 [28]

The correct answer is C) overallocated.

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This means that in any business, overallocation is when resources are not correctly allocated to the departments or activities needed. SO when planning a project, overallocation can be the mistake of assig more resources to one side of the project, department, area, or unit. This implies the idea that other departments or activities are gings to lack the proper funding to do their work. Of course, overallocation can affect the results of the project or the time is needed to get it done.

5 0
3 years ago
A manager has received an analysis of several cities being considered for a new office complex. The data (10 points maximum) are
Solnce55 [7]

Answer:

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The assignment of weights will differentiate the factors and change the decision outcome.

An excel copy is attached showing the derivations for a and b.

Download xlsx
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